$PENDLE / USDT – Breakdown in Progress? Short Setup in Play
Current Price: $4.131 (+6.63%)
$PENDLE made a solid push up but ran straight into resistance at $4.32—and now it’s starting to slip.
Lower highs are forming, and the latest 30-minute candle shows a clear bearish engulfing. Momentum is cooling off, and the volume’s thinning out.
Short Trade Setup (if weakness continues):
Entry Zone: $4.13 – $4.20
Targets:
TP1: $4.00
TP2: $3.90
TP3: $3.78
Stop Loss: $4.35 (above resistance)
Key Levels:
Resistance: $4.32 (local top), $4.40
Support: $4.00, $3.90, $3.78 (24H low)
What to Watch:
A clean break below $4.10 could open the door to a deeper move down.
This setup favors short-term traders looking to capitalize on the current weakness.
Pro Tip:
Look to enter on minor bounces if rejection confirms.
Avoid chasing. Use a trailing stop as price nears each support level to lock in gains.
Bears, the setup is here—just wait for your signal and execute with precision. Stay focused!
